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The law was adopted by Russia’s lower house of parliament, the State
Duma, on Dec. 19 and later approved by the upper house, the
Federation Council, on Dec. 26.

Under the law, representatives or employees of foreign companies
investing in Russia or participating in the projects of the Skolkovo
Innovation Center and the International Financial Center may be issued
with a regular business visa valid for five years instead of one year.

The Russian government announced in 2010 it began easing the
country's complicated visa system for foreign specialists in a bid to
steer Russia's economy away from an unhealthy dependence on oil and gas
and boost the innovation sector.